The Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) has reiterated its commitment to modernising Nigeria’s revenue generation through technological advancements.
Speaking at the launch of the implementation of the Presidential Initiative on Revenue Optimisation and Digitalisation via Space Technology, RMAFC Chairman, Dr. Muhammed Bello Shehu, emphasised that the initiative would be executed in collaboration with the National Space Research and Development Agency (NASDRA) and other key stakeholders.
The event, held at the Commission’s headquarters in Abuja, underscores the government’s drive to leverage space technology and digital solutions to enhance revenue collection and allocation efficiency.
*REVENUE MOBILIZATION, ALLOCATION AND FISCAL COMMISSION*
PRESS RELEASE
*RMAFC Chairman, Champions New Revenue Optimization Initiative in Collaboration with NASDRA*
The Chairman, Revenue Mobilization Allocation and Fiscal Commission (RMAFC), Dr. Muhammed Bello Shehu, OFR, has… pic.twitter.com/bxTs2H5fJI
— RMAFC (@ng_rmafc) January 30, 2025
He recalled that during his inaugural speech, His Excellency, President Bola Ahmed Tinubu, GCFR, emphasised the importance of economic recovery through enhanced revenue generation, which can primarily be achieved through the discovery of new revenue streams.
The Renewed Hope Agenda of this Administration, he said, can only be realised through the implementation of efficient revenue generation methods, with the creation of new revenue streams through the use of modern technology.
Dr. M.B. Shehu, in a statement by Maryam Umar Yusuf, Head, Information and Public Relations Unit, RMAFC, said, “We stand at the threshold of a new era, where innovation, creativity and collaboration drive economic growth and progress. It is indeed not an overstatement to say that the traditional sources and methods of revenue generation, apart from the fact that they are no longer in vogue, are, most importantly, not sufficient to meet the evolving needs of our great nation.
“Therefore, as key stakeholders, we must think innovatively and collaboratively to unlock new opportunities for economic growth and development in the interest of our beloved country.”
Dr Shehu, therefore, emphasised the need for a strategic, technology-driven approach to revenue mobilisation, pointing out that effective collection, accountability, and proper utilisation of revenues are essential for national development.
He posited that optimising revenue sources is not just a necessity but a responsibility that must be shared by all stakeholders.
“We are on the verge of writing a new chapter in Nigeria’s leadership. The collective determination of stakeholders here today is key to optimising revenue collection and utilisation. This is a task that must be achieved for our dear country,” he said.
The Director General of NASDRA, Dr Matthew Olumide Adepoju, highlighted the potential of space technology in revenue mobilisation, noting that with AI, robotics, and space innovation, Nigeria can generate up to $50 billion annually while also strengthening national security.
Earlier in his welcome address, the federal commissioner representing Bauchi State in the Commission and Ag. Chairman of the Mobilisation and Diversification Committee, Engr. Muhammed Sani Baba acknowledged the importance of the initiative and called for the support of all stakeholders to ensure its successful implementation.
He disclosed that the occasion was organised as a step towards the implementation of the directive of Mr President that the generation, collection and subsequent utilisation of revenue should be modernised for the growth of the country and its exciting future.
A technical session featured a NASDRA-led presentation on leveraging space science and technology to block revenue leakages and create new revenue streams.
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